Handelsbanken Fonder AB Reduces Position in MSA Safety Incorporporated $MSA

Handelsbanken Fonder AB lessened its stake in shares of MSA Safety Incorporporated (NYSE:MSA) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 193,544 shares of the industrial products company’s stock after selling 23,300 shares during the period. Handelsbanken Fonder AB’s holdings in MSA Safety Incorporporated were worth $30,994,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its position in MSA Safety Incorporporated by 700.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 126 shares during the last quarter. eCIO Inc. purchased a new stake in MSA Safety Incorporporated during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its position in MSA Safety Incorporporated by 94.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 96 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in MSA Safety Incorporporated during the 3rd quarter worth approximately $43,000. Finally, Kelleher Financial Advisors purchased a new stake in MSA Safety Incorporporated during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. DA Davidson dropped their target price on shares of MSA Safety Incorporporated from $235.00 to $206.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. National Bank Financial set a $235.00 target price on shares of MSA Safety Incorporporated in a research report on Wednesday, February 18th. Weiss Ratings downgraded shares of MSA Safety Incorporporated from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 6th. Jefferies Financial Group reissued a “hold” rating and set a $180.00 target price (down from $200.00) on shares of MSA Safety Incorporporated in a research report on Tuesday, March 31st. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of MSA Safety Incorporporated in a report on Thursday, February 12th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $200.00.

MSA Safety Incorporporated Stock Down 2.4%

MSA stock opened at $165.37 on Wednesday. The firm’s fifty day simple moving average is $171.07 and its 200-day simple moving average is $172.42. The company has a market capitalization of $6.38 billion, a P/E ratio of 22.35 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.17 and a quick ratio of 1.92. MSA Safety Incorporporated has a 12 month low of $151.10 and a 12 month high of $208.92.

MSA Safety Incorporporated (NYSE:MSA) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $463.63 million for the quarter, compared to the consensus estimate of $451.28 million. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. As a group, equities research analysts forecast that MSA Safety Incorporporated will post 8.86 earnings per share for the current year.

MSA Safety Incorporporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $0.54 dividend. This is an increase from MSA Safety Incorporporated’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. MSA Safety Incorporporated’s payout ratio is currently 29.19%.

MSA Safety Incorporporated announced that its board has approved a stock repurchase plan on Thursday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

MSA Safety Incorporporated Profile

MSA Safety Incorporated develops, manufactures and supplies a wide range of safety products designed to protect workers in hazardous environments. The company’s offerings span personal protective equipment such as industrial helmets, face shields, protective clothing and fall protection devices, as well as fixed and portable gas detection and monitoring systems. MSA’s products are used in industries including oil and gas, mining, construction, fire service, and chemical processing to guard against risks such as gas leaks, impacts, flame exposure and falls from height.

Key product lines include self-contained breathing apparatus (SCBA) and air-purifying respirators, gas detectors and sensors, head and face protection, and fall arrest systems.